OPM 450: Business Analytics for Informed Decision-Making in Operations Management

Contents
Many organizations and even industries such as health care or education suffer significant consequences due to demand–supply mismatches. The underlying managerial and operations-related decisions are often very complex, involving many alternatives with different impact. Consequently, trade-offs between key performance metrics such as profit, cost, quality, and environmental impact must be carefully navigated.
This course equips participants with managerial concepts and advanced analytical tools to help make “better” decisions and manage operations more effectively such that they are aligned with overarching strategic objectives. In particular, we will create models and use software such as state-of the-art spreadsheet and simulation tools to analyze and solve different operations-related management problems typically arising in practice. The methods and tools taught in the course have become invaluable aids to informed decision making in order to improve processes, save resources, and create value.
Applications cover a broad range of industries, such as air and railway trans­port, retailing, public services, health care, manufacturing, etc. The course pursues an active-learning approach including lecture-style class sessions and computer-based exercises.

Learning outcomes
Students will

• get an advanced understanding of the challenging operations-related decisions and problems in practice,
• learn about concepts and state-of-the-art tools for analyzing complex decision situations and for systematically evaluating options in operations management,
• enhance problem structuring, model-based thinking and analytical skills.

Necessary prerequisites
semester 4 or higher

Recommended prerequisites
OPM 301

Examiner Performing lecturer

Prof. Dr. Cornelia Schön Prof. Dr. Cornelia Schön